Vivani Medical nasdaq Vani Stock Skyrockets 300 Whats Behind the Surge

Vivani Medical (NASDAQ: VANI) Stock Skyrockets 300%: What’s Behind The Surge?

Vivani Medical (NASDAQ: VANI) stock saw a meteoric rise on Wednesday after the company reported promising preclinical results for obesity treatment implants.

Vivani Medical (VANI) has just released encouraging preclinical findings regarding its innovative obesity treatment implants, NPM-115 and NPM-139. These implants, designed to release medication over prolonged periods, aim to enhance patient adherence and potentially improve treatment tolerability.

NPM-115, an exenatide implant intended for biannual administration, has demonstrated significant weight loss effects in preclinical studies, comparable to those achieved with semaglutide injections, a current standard in obesity treatment. Moreover, Vivani disclosed that NPM-139, which contains semaglutide, offers the potential advantage of once-yearly dosing.

A recent study involving obese mice fed high-fat diets revealed that NPM-115 induced around 20% weight loss over 28 days, similar to the effects observed with semaglutide injections. Another study conducted on healthy rats showcased that a single administration of NPM-119, a related exenatide implant developed for type 2 diabetes, resulted in roughly 25% lower body weight compared to controls after 15 weeks.

Dr. Adam Mendelsohn, CEO of Vivani, underscored the company’s strategic pivot towards obesity implants, highlighting their potential to enhance health outcomes. He referenced a large retrospective cohort study indicating a mere 40% adherence and persistence rate for current obesity medications, underscoring the pressing need for improved solutions.

The company plans to provide the FDA with supplementary chemistry, manufacturing, and control data in the first half of 2024 to resolve a clinical hold on its NPM-119 study. Meanwhile, groundwork is being laid for the initiation of a first-in-human study of NPM-115 for chronic weight management later this year.

Vivani Medical (NASDAQ: VANI) Stock Reaction

VANI stock shot up 298.51% to close at $4.03 on Wednesday. The traders had exchanged hands with 140,010,596 (140.01 million) shares compared to the average daily trading volume of 48.94K.